A trade deal that makes a breakthrough in bilateral cooperation between Vietnam bet88 kèo UAE

The freshly-signed Comprehensive Economic Partnership Agreement (CEPA) between Vietnam bet88 kèo the United Arab Emirates (UAE) will not only mark a breakthrough in bilateral economic bet88 kèo trade cooperation but also serve as a strong impetus to attract substantial investment from the Middle Eastern nation in such sectors as energy, industry, high technology, bet88 kèo supply chain development.

Minister of Industry bet88 kèo Trade Nguyen Hong Dien was quoted by the Vietnam News Agency as making the statement in an interview granted to the press after he bet88 kèo UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi signed the deal in Dubai on October 28 (local time) in the witness of visiting Prime Minister Pham Minh Chinh bet88 kèo UAE Vice President bet88 kèo Prime Minister Sheikh Mohammed bin Rashid Al Maktoum.

With 18 chapters, 15 appendices, bet88 kèo two bilateral letters, CEPA covers such areas as trade in goods, services-investment, rules of origin, technical barriers to trade, sanitary bet88 kèo phytosanitary measures, customs, trade remedies, government procurement, intellectual property, bet88 kèo legal bet88 kèo institutional affairs.

Both sides strongly commit to trade liberalization, with the UAE pledging to phase out tariffs on 99% of imports from Vietnam, bet88 kèo Vietnam to remove tariffs on 98.5% of imports from the UAE. The deal also includes various provisions facilitating trade bet88 kèo investment, aligning with digital transformation bet88 kèo green development trends.

According to the minister, CEPA is a comprehensive document promising to balance interests for both countries. With its preferential commitments towards balanced benefits for both sides, it will be a crucial driver to further promote bilateral trade bet88 kèo investment in the coming time.

Within the framework of the agreement, the UAE commits to eliminating tariffs as soon as it takes effect for many key industries bet88 kèo potential exports from Vietnam, Minister Dien said, affirming that this will create favorable conditions to promote Vietnamese exports to this market bet88 kèo other Middle Eastern countries.

Notable agricultural products such as cashew nut, pepper, bet88 kèo honey will have greater opportunities to penetrate the UAE bet88 kèo Middle Eastern markets thanks to reduced tariffs. Moreover, this region has a high demand for quality agricultural products, particularly clean bet88 kèo organic items as well as those with Halal certification.

CEPA is the first free trade agreement (FTA) that Vietnam has negotiated with an Arab country in the Middle East bet88 kèo Africa, marking a significant step in enhancing relations not only with the UAE but also the broader region, according to Minister Dien.

As the UAE is one of Vietnam's key partners in trade, investment, bet88 kèo labor in the region, CEPA can bring more investment opportunities to Vietnam from companies looking to make the most of bet88 kèo benefit from the deal.

The agreement includes a chapter exclusively on economic cooperation, in which both parties agree to implement collaboration activities in such areas as tourism, transportation, manufacturing, financial services, bet88 kèo energy development through various formats, including organizing conferences bet88 kèo seminars, exchanging delegations, experts, technicians, bet88 kèo academics, bet88 kèo sharing experience between the private sectors, Minister Dien stated, adding that this will create an opportunity for domestic businesses bet88 kèo experts to learn from experiences bet88 kèo acquire advanced technologies from the Middle Eastern country.

According to the minister, the signing of CEPA with the UAE will be an important leverage for Vietnam to seize trade bet88 kèo investment opportunities in the Middle East, which is home to many dynamic economies with significant economic scales but have yet to received much attention from Vietnamese businesses.

In addition, the UAE is an important trade gateway in the Middle East, with a big potential to connect with many countries in the region. Therefore, through this nation, Vietnamese products will have easier access to other large markets in the region such as Saudi Arabia, Qatar, bet88 kèo Kuwait, as well as some countries in North Africa bet88 kèo Western Asia.

Minister Dien advised enterprises to take advantage of opportunities brought about by the agreement by actively learning from its commitments as well as business practices of the UAE market in particular bet88 kèo the Middle East in general.

To realize its commitments, the Ministry of Industry bet88 kèo Trade will build a specific plan on the implementation of CEPA bet88 kèo popularize its content to relevant organizations bet88 kèo individuals, the minister said.